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Somaliland Cabinet Approves 2022 Annual Budget

Hargeisa (SD) – The Somaliland cabinet has today approved the country’s 2022 budget, totaling 3,447,802,505,538, an increase of 17% compared to 2021.

The federal budget has increased by 11%, the local government by 44%, the private sector by 12%, foreign aid by 41%, and the army forces will receive a 20% increase in their salaries.

The Minister of Finance, Dr. Sa’ad Ali Shire read out the budget estimates, and talked about how the ministry has taken it upon itself to create a budget that attempts to meet the various needs of the nation, claiming to have responsibly reconsidered their estimates, and members of the cabinet commended the efforts of the Ministry of Finance and its staff for the time spent producing the 2022 budget.

“The annual budget will focus on Balancing revenues and expenditures, controlling inflation, maintaining the value of the Somaliland shilling, moving away from dependence on customs duties, strengthening security, extracting water, and addressing drought. strengthening the national reserve, promoting health and education services, productivity, the environment, and strengthening the quest for recognition, ” minister Sa’ad Shire said.

Cabinet members commended the Ministry of Finance Development and its staff in devoting time to generating the 2022 budget.

After much discussion at the cabinet meeting, the President of the Republic of Somaliland, Muse Bihi Abdi, but the budget estimates to a vote, with council approving the 2022 national budget unanimously.

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